Stuffing BITCOIN in wallet..... Is it the future of money market?
BITCOIN ...... the virtual money.... the future of money.
What is basically BITCOIN?
It is technology which allows people to pay for anything from anywhere in the World.
It works on peer-to-peer technology where no one is centrally authenticated that is anyone has the access for payments within a collective circle.
It was initiated by Satoshi Nakamoto under license from MIT.
Now the basic need?
Well on cash payments and transactions are done without any intrusion of some third party directly via Internet.
They are fast and cheap as compared to some other governmental organizations being involved.
People have been terming BITCOIN as the future of money lately.
Why?
Because it can prove to be the first currency which can be accepted globally through Internet.
So.... how does this work?
Basically it uses the concept devised as Block Chain.Block Chains are managers of your BITCOINS.It keeps your BITCOINS secure and allows the people to decide on whether how much BITCOIN is owned by any individual within a network.With the formation of every new Block for new transaction record, a series of numbers or alphabets are arranged called hash which launches cryptographic algorithms for new Block.
Find out more at www.newscientist.com/article/mg22129553.700-bitcoin-how-its-core-technology-will-change-the-world.html#.UvoT9mJT4w5
Follow me twitter.com/nedian123 on Twitter and join my facebook fanpage facebook.com/za.blogs
What is basically BITCOIN?
It is technology which allows people to pay for anything from anywhere in the World.
It works on peer-to-peer technology where no one is centrally authenticated that is anyone has the access for payments within a collective circle.
It was initiated by Satoshi Nakamoto under license from MIT.
Now the basic need?
Well on cash payments and transactions are done without any intrusion of some third party directly via Internet.
They are fast and cheap as compared to some other governmental organizations being involved.
People have been terming BITCOIN as the future of money lately.
Why?
Because it can prove to be the first currency which can be accepted globally through Internet.
So.... how does this work?
Basically it uses the concept devised as Block Chain.Block Chains are managers of your BITCOINS.It keeps your BITCOINS secure and allows the people to decide on whether how much BITCOIN is owned by any individual within a network.With the formation of every new Block for new transaction record, a series of numbers or alphabets are arranged called hash which launches cryptographic algorithms for new Block.
Find out more at www.newscientist.com/article/mg22129553.700-bitcoin-how-its-core-technology-will-change-the-world.html#.UvoT9mJT4w5
Follow me twitter.com/nedian123 on Twitter and join my facebook fanpage facebook.com/za.blogs
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